The company converts over $1.6 million in Debt to Stock
TUSTIN, CA–(Marketwired – Mar 28, 2017) – Premier Holding Corporation (OTCQB: PRHL), an energy seller and reseller in deregulated markets, announces that it has made more progress on its campaign for the conversion of its debt and has successfully converted over $1,600,000 in debt to equity through a program designed to improve its balance sheet. The company has converted nearly 50% of its convertible note balance and expects that it will eliminate more than 70% of its outstanding debt through this campaign.
This action indicates the company is continuing to improve its balance sheet which will increase its credit worthiness, which in turn allows the company to underwrite business through the newly acquired supplier, AIC, and to start taking customers.
PRHL’s President and CEO Randall Letcavage stated, “The Company acknowledges the confidence that these new stockholders have with us as indicating by this action. As we continue to achieve each step toward our goals, such as the recent completion of the acquisition of the power supplier, we will make further announcements.”
About Premier Holding Corporation
Under the corporate motto, “Everything Energy,” Premier is an energy holding company focused on acquiring and integrating energy companies as synergistic subsidiaries. The Company accumulates residential and commercial clients in deregulated markets from all subsidiaries and cross sells energy and energy efficiency products and services including LED lighting, energy management systems, smart home technology, and more, maximizing profit potential and minimizing cost of client procurement. In addition, Premier Holding provides top line management and financial support, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information, visit PRHL Investors Relations www.prhlcorp.com.
Premier Holding Corp. Safe Harbor:
This press release contains certain statements that may include “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipate,” “optimistic,” “intend,” “will” or other similar expressions. The Company’s actual results could differ materially from those anticipated in these forward-looking statements.
As a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.